Merck beat second-quarter estimates and raised its 2026 revenue outlook to between $66.3 billion and $67.3 billion, driven by strong growth from new products. The pharmaceutical giant cut its adjusted earnings guidance to between $2.66 and $2.76 per share, citing one-time charges of $5.7 billion related to the Terns Pharmaceuticals acquisition and $9 billion related to the Cidara Therapeutics acquisition. Second-quarter revenue came in at $16.61 billion, up 5% year over year, beating Wall Street expectations. Keytruda generated $8.37 billion in quarterly sales, including $463 million from the new injectable formulation, while Winrevair saw sales surge 75% to $588 million.
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